Vincent Tan seeks buyer for 30pct Prudential Malaysia stake

Berjaya Group founder Tan Sri Vincent Tan is exploring a sale of his remaining 30 per cent stake in Prudential Assurance Malaysia Bhd, in what could become one of Malaysia’s largest insurance deals in recent years.

Sources said the proposed transaction could value Prudential Malaysia at over RM20 billion, sharply higher than the RM8 billion valuation implied during last year’s stake restructuring.

Financial advisers have begun preliminary talks with potential Malaysian investors, although discussions remain at an early stage with no final decision made.

The move follows Prudential Plc’s increase of its stake to 70 per cent last year after acquiring an additional 19 per cent interest from Tan-linked Detik Ria Sdn Bhd.

Any buyer for the remaining stake must be Malaysian, as local regulations cap foreign ownership in insurers at 70 per cent.
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